Fundraising Event Planner: Maximize Profit with Rounding
Inquiry Framework
Question Framework
Driving Question
The overarching question that guides the entire project.How can we plan and execute a fundraising event that maximizes profit using our understanding of rounding, estimation, and operations?Essential Questions
Supporting questions that break down major concepts.- How can we use rounding to estimate costs and revenue?
- How do we determine the best ticket price for our event?
- What are the different types of expenses we need to consider?
- How can we maximize our profit?
- How can we use our knowledge of place value to help us with fundraising?
- How do we apply the concept of operations (addition, subtraction, multiplication, division) to calculate the total cost, revenue, and profit?
Standards & Learning Goals
Learning Goals
By the end of this project, students will be able to:- Apply placeāvalue concepts to show an understanding of operations
- Understand rounding as it pertains to whole numbers and decimals
- Estimate costs
Common Core Standards
Entry Events
Events that will be used to introduce the project to studentsThe Great Fundraising Fail
The Great Fundraising Fail: The teacher presents a comically exaggerated case study of a disastrous fundraising event filled with calculation errors and poor estimations. Students work in teams to identify the mistakes and propose solutions, understanding the consequences of inaccurate rounding and estimation in a high-stakes scenario.Local Charity Challenge
Local Charity Challenge: A representative from a local charity presents the organization's mission and a past fundraising event's financial report. Students analyze the report, identifying areas where costs could have been reduced or revenue increased through better estimation and rounding, sparking ideas for their own event.Portfolio Activities
Portfolio Activities
These activities progressively build towards your learning goals, with each submission contributing to the student's final portfolio.Place Value Rounding Review
Students will learn about different place values and how they relate to rounding whole numbers and decimals. They will practice identifying place values and rounding numbers to the nearest ten, hundred, and thousand.Steps
Here is some basic scaffolding to help students complete the activity.Final Product
What students will submit as the final product of the activityA place value chart with examples of rounded numbers.Alignment
How this activity aligns with the learning objectives & standardsCC.2.1.5.B.1 (Apply placeāvalue concepts to show an understanding of operations and rounding as they pertain to whole numbers and decimals.) Addresses the learning goal of understanding place value and its role in operations.Cost & Revenue Round-Up
Students will brainstorm potential costs and revenues associated with their fundraising event. They will then practice rounding these amounts to the nearest dollar (or appropriate unit) to simplify calculations and create initial estimates.Steps
Here is some basic scaffolding to help students complete the activity.Final Product
What students will submit as the final product of the activityA list of potential fundraising event costs and revenues, rounded to the nearest dollar.Alignment
How this activity aligns with the learning objectives & standardsCC.2.1.5.B.1 (Apply placeāvalue concepts to show an understanding of operations and rounding as they pertain to whole numbers and decimals.) Directly supports the learning goal of understanding rounding and estimation in the context of fundraising.Profit Estimation Station
Students will use their rounded cost and revenue estimates to calculate the potential profit of their fundraising event. They will practice addition and subtraction with decimals to determine the total revenue, total costs, and estimated profit margin.Steps
Here is some basic scaffolding to help students complete the activity.Final Product
What students will submit as the final product of the activityA detailed budget proposal, including estimated revenue, costs, and profit margin for the fundraising event.Alignment
How this activity aligns with the learning objectives & standardsCC.2.1.5.B.1 (Apply placeāvalue concepts to show an understanding of operations and rounding as they pertain to whole numbers and decimals.) Focuses on applying rounding skills to estimate overall financial outcomes, directly addressing the standard's emphasis on operations and rounding.Rubric & Reflection
Portfolio Rubric
Grading criteria for assessing the overall project portfolioFundraising Event Planner Rubric
Place Value & Rounding
Focuses on assessing students' understanding and application of place value and rounding concepts.Rounding Accuracy
Accuracy of place value identification and rounding to the nearest ten, hundred, and thousand for both whole numbers and decimals.
Exemplary
4 PointsConsistently and accurately identifies place values and rounds numbers with no errors, demonstrating a deep understanding of the concept.
Proficient
3 PointsAccurately identifies place values and rounds numbers with only minor errors, demonstrating a solid understanding of the concept.
Developing
2 PointsShows some understanding of place values and rounding but makes frequent errors, indicating a developing understanding of the concept.
Beginning
1 PointsStruggles to identify place values and round numbers, demonstrating a limited understanding of the concept.
Chart Clarity and Organization
Clarity and organization of the place value chart, making it easy to understand and use.
Exemplary
4 PointsThe place value chart is exceptionally clear, well-organized, and visually appealing, enhancing understanding and demonstrating advanced presentation skills.
Proficient
3 PointsThe place value chart is clear, well-organized, and easy to understand, demonstrating effective presentation skills.
Developing
2 PointsThe place value chart is somewhat organized but may lack clarity or have minor presentational issues.
Beginning
1 PointsThe place value chart is disorganized, unclear, and difficult to understand, demonstrating poor presentation skills.
Example Relevance
Inclusion of relevant examples that clearly demonstrate the application of rounding in different contexts.
Exemplary
4 PointsIncludes a wide range of innovative and insightful examples that demonstrate a sophisticated understanding of rounding applications.
Proficient
3 PointsIncludes relevant and clear examples that demonstrate a thorough understanding of rounding applications.
Developing
2 PointsIncludes some examples, but they may be limited or unclear, demonstrating a partial understanding of rounding applications.
Beginning
1 PointsIncludes few or irrelevant examples, demonstrating a limited understanding of rounding applications.
Cost & Revenue Round-Up
Focuses on evaluating students' ability to identify, estimate, and round costs and revenues related to the fundraising event.Cost & Revenue Identification
Completeness and accuracy of the list of potential costs and revenues associated with the fundraising event.
Exemplary
4 PointsIdentifies a comprehensive and highly accurate list of potential costs and revenues, demonstrating exceptional foresight and attention to detail.
Proficient
3 PointsIdentifies a thorough and accurate list of potential costs and revenues, demonstrating strong planning skills.
Developing
2 PointsIdentifies some potential costs and revenues, but the list may be incomplete or contain inaccuracies, indicating a developing understanding of event planning.
Beginning
1 PointsIdentifies few potential costs and revenues, demonstrating a limited understanding of event planning.
Rounding Accuracy
Correctness and consistency in rounding each cost and revenue amount to the nearest dollar or appropriate unit.
Exemplary
4 PointsConsistently and accurately rounds all costs and revenues to the nearest dollar or appropriate unit, demonstrating a flawless application of rounding principles.
Proficient
3 PointsAccurately rounds most costs and revenues to the nearest dollar or appropriate unit, with only minor inconsistencies.
Developing
2 PointsRounds some costs and revenues correctly, but there are noticeable errors or inconsistencies in rounding.
Beginning
1 PointsStruggles to round costs and revenues accurately, demonstrating a limited understanding of rounding principles.
Justification of Estimates
Justification for the estimated dollar amounts assigned to each cost and revenue item, demonstrating realistic and informed decision-making.
Exemplary
4 PointsProvides insightful and well-researched justifications for all estimated costs and revenues, demonstrating exceptional critical thinking and a deep understanding of market factors.
Proficient
3 PointsProvides clear and reasonable justifications for most estimated costs and revenues, demonstrating effective research and planning skills.
Developing
2 PointsProvides limited or vague justifications for some estimated costs and revenues, indicating a need for further research and planning.
Beginning
1 PointsProvides little to no justification for estimated costs and revenues, demonstrating a lack of research and planning.
Profit Estimation
Focuses on evaluating students' ability to apply rounding skills to estimate the overall financial outcomes of their fundraising event.Calculation Accuracy
Accuracy in calculating the total estimated revenue and total estimated costs using rounded amounts.
Exemplary
4 PointsCalculates total estimated revenue and costs with perfect accuracy, demonstrating mastery of addition and a deep understanding of financial calculations.
Proficient
3 PointsCalculates total estimated revenue and costs with high accuracy, with only minor errors that do not significantly impact the overall result.
Developing
2 PointsMakes some errors in calculating total estimated revenue or costs, indicating a need for further practice with addition and subtraction.
Beginning
1 PointsStruggles to calculate total estimated revenue and costs accurately, demonstrating a limited understanding of addition and subtraction.
Budget Proposal Clarity
Clarity and organization of the budget proposal, including clear labeling of revenue, costs, and profit margin.
Exemplary
4 PointsPresents a budget proposal that is exceptionally clear, visually appealing, and meticulously organized, making it easy to understand and interpret the financial information.
Proficient
3 PointsPresents a budget proposal that is clear, well-organized, and easy to understand, with all financial information clearly labeled.
Developing
2 PointsPresents a budget proposal that is somewhat organized but may lack clarity or have minor labeling issues.
Beginning
1 PointsPresents a budget proposal that is disorganized, unclear, and difficult to understand, with poor labeling of financial information.
Profit Margin Realism
Reasonableness of the estimated profit margin, considering the context of the fundraising event and the estimated costs and revenues.
Exemplary
4 PointsPresents a highly realistic and well-justified profit margin, demonstrating exceptional business acumen and a deep understanding of financial planning.
Proficient
3 PointsPresents a reasonable and well-supported profit margin, demonstrating a strong understanding of financial planning.
Developing
2 PointsPresents a profit margin that may be somewhat unrealistic or poorly justified, indicating a need for further refinement of the budget proposal.
Beginning
1 PointsPresents an unrealistic or completely unjustified profit margin, demonstrating a lack of understanding of financial planning.